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Tesla Leads 11% Annual Drop in Ev Prices as Demand Slowdown Continues
Tesla slashed Model Y prices by 20% from January 2023 while overall U.S. car prices fell 3.5%, Kelley Blue Book says. People in the market for a new electric vehicle may be looking at a bargain of sorts, particularly if they aim to get a new Tesla.The average U.S. price of a new EV in January was $55,353, down 10.8% from January 2023, Kelley Blue Book said Tuesday. That is 3.2% higher, however, than the December average of $53,611, which was the lowest average price for an electric car in the past 12 months."EV prices have come down significantly in the U.S. in the past year, led by price cuts at Tesla," said Mark Strand, a senior director at Cox Automotive, which owns Kelley Blue Book.Prices for the Tesla Model Y, the industry's EV volume leader, have tumbled about 21% in the past year, falling to less than $50,000 in January from nearly $63,000 in January 2023, Kelley Blue Book said.
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